Peel Mining Limited (ASX:PEX) made an offer to acquire remaining 50% stake in Mallee Bull Project from CBH Resources Limited on August 3, 2020. The acquisition is subject to Ministerial Approval. AUD 10.5 million is raised by Peel Mining Limited through placement which will be used to fund the transaction. Transaction is subject to Ministerial consent. Completion of the sale of transaction will occur five business days after satisfaction of the condition of completion date. If the completion date does not occur on or before August 3, 2021, then either Peel Mining Limited or CBH Resources Limited may terminate the agreement of the transaction. As of December 16, 2020, transaction is expected to complete in coming weeks. Peel Mining Limited (ASX:PEX) completed the acquisition of remaining 50% stake in Mallee Bull Project from CBH Resources Limited for AUD 17 million on January 6, 2021. Ministerial approval for the transfer of titles has now been received and the cash consideration of AUD 17 million paid as final settlement. To fund the acquisition of 50% of the Mallee Bull Project, Peel completed a AUD 17.1 million capital raising comprising of a successful placement on July 27, 2020 to institutional and sophisticated investors raising AUD 10.5 million and an entitlement issue which closed on September 1, 2020 raising approximately AUD 6.6 million.